GAMMA Investing LLC Has $32,000 Stake in Archer Aviation Inc. $ACHR

GAMMA Investing LLC raised its position in Archer Aviation Inc. (NYSE:ACHR) by 219.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 2,946 shares of the company’s stock after purchasing an additional 2,024 shares during the period. GAMMA Investing LLC’s holdings in Archer Aviation were worth $32,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allworth Financial LP lifted its position in shares of Archer Aviation by 87.0% in the 1st quarter. Allworth Financial LP now owns 3,577 shares of the company’s stock worth $25,000 after purchasing an additional 1,664 shares during the period. Strs Ohio bought a new stake in shares of Archer Aviation in the 1st quarter valued at $27,000. Tidemark LLC increased its stake in shares of Archer Aviation by 100.0% in the 1st quarter. Tidemark LLC now owns 4,000 shares of the company’s stock valued at $28,000 after acquiring an additional 2,000 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Archer Aviation in the 1st quarter valued at $31,000. Finally, ORG Partners LLC bought a new stake in shares of Archer Aviation in the 1st quarter valued at $32,000. Institutional investors and hedge funds own 59.34% of the company’s stock.

Analyst Ratings Changes

ACHR has been the subject of several research analyst reports. Cantor Fitzgerald reiterated an “overweight” rating on shares of Archer Aviation in a research note on Thursday, July 17th. HC Wainwright reiterated a “buy” rating and issued a $18.00 price objective on shares of Archer Aviation in a research note on Tuesday, August 12th. Needham & Company LLC reiterated a “buy” rating and issued a $13.00 price objective on shares of Archer Aviation in a research note on Tuesday, August 12th. JPMorgan Chase & Co. lifted their price objective on shares of Archer Aviation from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Archer Aviation in a research note on Saturday, September 27th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.43.

Archer Aviation Stock Performance

NYSE ACHR opened at $11.52 on Monday. Archer Aviation Inc. has a 1 year low of $2.85 and a 1 year high of $13.92. The company has a debt-to-equity ratio of 0.05, a current ratio of 22.30 and a quick ratio of 22.30. The firm has a market cap of $7.43 billion, a price-to-earnings ratio of -8.53 and a beta of 3.06. The company has a fifty day moving average price of $9.49 and a 200-day moving average price of $9.53.

Archer Aviation (NYSE:ACHR) last posted its earnings results on Monday, August 11th. The company reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.12). As a group, equities research analysts predict that Archer Aviation Inc. will post -1.32 EPS for the current fiscal year.

Insider Activity

In other news, CTO Thomas Paul Muniz sold 86,133 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $9.83, for a total value of $846,687.39. Following the completion of the sale, the chief technology officer owned 1,327,469 shares in the company, valued at $13,049,020.27. This represents a 6.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Tosha Perkins sold 42,775 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $9.83, for a total transaction of $420,478.25. Following the transaction, the insider owned 295,337 shares of the company’s stock, valued at approximately $2,903,162.71. The trade was a 12.65% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 188,068 shares of company stock worth $1,848,708. 7.65% of the stock is owned by insiders.

Archer Aviation Profile

Archer Aviation Inc, together with its subsidiaries, engages in designs, develops, and operates electric vertical takeoff and landing aircraft for use in urban air mobility. The company was formerly known as Atlas Crest Investment Corp. and changed its name to Archer Aviation Inc The company is headquartered in San Jose, California.